In an effort to enhance Hong Kong’s regulatory regime for combating money laundering and terrorist financing, a new licensing regime for trust or company service providers (TCSPs) and new requirements on the keeping of Significant Controllers Registers by companies took effect today (March 1). The new licensing regime for TCSPs has been introduced under the...Read More

Eight jurisdictions removed from EU list Eight jurisdictions have been removed from the EU’s list of non-cooperative jurisdictions for tax purposes, following commitments made at a high political level to remedy EU concerns. Barbados, Grenada, the Republic of Korea, Macao SAR, Mongolia, Panama, Tunisia and the United Arab Emirates are moved to a separate category of jurisdictions subject to...Read More

Panama commits to CRS, will be removed from EU blacklist The EU has proposed that Panama be one of several jurisdictions to be removed from its blacklist of tax havens, as the country signs the OECD’s Common Reporting Standard Multilateral Competent Authority Agreement (CRS MCAA). On Monday January 15, 2018, Panama became the ninety-eighth jurisdiction...Read More

Malta’s transposition of the Fourth EU Anti-Money Laundering Directive will make the fight against money laundering and terrorism financing more effective Malta has enacted legislation to fully transpose the Fourth Anti-Money Laundering Directive. This directive has been transposed into Maltese law by virtue of amendments to the Prevention of Money Laundering Act, the enactment of...Read More

Summary guide for companies – register of people with significant control This guide provides a brief introduction for companies to their obligations to record details of their beneficial ownership. This regime is known as the register of people with significant control (PSC register). This guide sets out how the requirements apply to some simple company...Read More